A Big Tax Bill for the Investor Class

By

Thomas G. Donlan

Updated March 2, 2009 11:59 p.m. ET

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BARACK OBAMA'S $3.6 TRILLION BUDGET is full of bad news for investors and affluent individuals.

As the budget document declares, the Obama administration inherited what it calls a "legacy of misplaced priorities," chief among which is a three-decade trend of rising income inequality. In 2004, the budget says, the top 1% of families took home more than 22% of national income, up from 10% in 1980.

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